BlackRock now has $100 billion in crypto

BlackRock, the world’s largest asset manager with $12.53 trillion dollars of assets under management, now has $100 billion in crypto assets. 

The asset manager started buying Bitcoin seriously in 2024 when the SEC approved spot Bitcoin ETFs after Grayscale won a landmark legal victory against the SEC in 2023. BlackRock’s Bitcoin ETF, IBIT, shattered multiple records including fastest ETF to $10 billion, which it achieved in seven weeks.

It reached $80 billion in 374 days, the fastest to achieve that as well. IBIT now holds $84.5 billion in Bitcoin, making it comfortably one of BlackRock’s top 10 assets. 

BlackRock’s Ethereum ETF, ETHA, was the third-fastest ETF to reach the $10 billion mark. It currently has nearly $16 billion of Ethereum. 

The two ETFs together take BlackRock’s total crypto holdings to above $100 billion at the time of writing. 

BlackRock’s on-chain crypto holdings can be tracked and analysed using the Arkham Intel platform which combines all of BlackRock’s known wallets into a single entity. 

The entity shows that BlackRock’s total crypto holdings were as high as $107 billion on the 14th August, before dipping below $100 billion. 

BlackRock is the fourth biggest entity on the Arkham Intel platform by US dollar holdings, with Binance, Coinbase and Satoshi Nakamoto the only three bigger entities. To see the full list, read our article on the top 100 Arkham entities. 

The next biggest asset management company on the list of top Arkham entities is Fidelity Custody. Fidelity has $48.5 billion in crypto holdings, mainly Bitcoin and Ethereum. Fidelity is the third biggest asset management company with $3.9 trillion of assets under management. 

The entry of two of the largest asset management firms in the world into the world of crypto has been a huge boost to the industry. The arrival of institutional money has prompted conversations about whether the bull and bear cycles of the past will continue as they have before or look slightly different. 

Find out how to analyse, track and understand crypto ETFs and the way they affect the market with our on-chain ETF guide.